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CBRE has facilitated the sale of The Cascades mixed-use property on Gadsden Street in Tallahassee, FL for $95 million.

$95M Sale of Tallahassee Mixed-Use Sets Multifam, Office, Retail Records

CBRE has facilitated the sale of The Cascades, a mixed-use property located on Gadsden Street in Tallahassee, FL, for $95 million.

A CBRE team of Frank Carriera, Mike Regan, Joe Ayers, Cliff Taylor and Mike Harrell represented the both the buyer, Becovic Management Company, and the seller, North American Properties, in the transaction.

 Constructed in 2021, The Cascades includes 161 multifamily units; 44,247 square feet of office space; 29,553 square feet of ground floor retail; central plaza; historical plaza; 4,914-square-foot historic building; 770-space parking garage and three development pads that can support an additional 173 multifamily units.

“The property leased-up at an extraordinary rate on the multifamily side and has executed exceptional leases on the office and retail side,” said Ayers “We were able to relay this message and deliver a record price per unit on the multifamily, as well as a record price per square foot for both the office and retail portions of the project.”


Inside The Story

CBRE's Ayers

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
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